What’s the typical expense ratio for MHP were all units are TOH
I am analyzing some deals that have 50% or higher TOH (Tenant owned homes) on MHP (Mobile home park). I am running into some unknowns. Does anyone know what is the usual expense ratio of MHP deals that have this type of high TOH. Let’s say a typical park of 10 pads with all occupied and are TOH.
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I would second @Jordan Moorhead.
The biggest factor will be your amenities like a clubhouse, park, pool etc (CAPX) and your utility set-up. Good set-ups can be fine on septic tanks but you can also have nightmare scenarios with septic tanks.
I would never guess on these numbers though, you need to get historical data.